Part III—Amended or AAR Items for REMICs Only

Identify in Part III the amount and treatment of any item the REMIC is changing from the way it was reported on the original return.

Column (a). Enter a description of the item that the REMIC is adjusting or amending.

Column (b). Enter the amounts from the REMIC’s return as originally filed or as it was later adjusted. If the return was changed or audited by the IRS, enter the amounts as adjusted.

Column (c). Enter the net increase or net decrease for each line being changed. Use parentheses around all amounts that are decreases. Explain the increase or decrease in Part V.

Column (d). Enter the correct amount. This will be the sum of column (b) and column (c).

Line 9. Total tax. Add the amounts on lines 6 through 8 and enter the total for each column on line 9.

Line 10. Tax paid with Form 7004. Enter the amount of tax paid with Form 7004, Application for Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.

Line 13. Overpayment, if any, as shown on original return or as later adjusted. Enter the amount from the “Overpayment” line of the original return, even if the REMIC chose to credit all or part of this amount to the next year’s estimated tax. This amount must be considered in preparing Form 1065-X because any refund due from the

Instructions for Form 1065-X (Rev. 10-2025) 7

original return will be refunded separately from any additional refund claimed on Form 1065-X. If the original return was changed by the IRS and the result was an additional overpayment of tax, also include that amount on line 13.

Line 15. Tax due. See Making a Payment , earlier, for ways to pay your tax obligation.

Line 16. Overpayment. If the REMIC is entitled to a refund larger than the amount claimed on the original return, line 16 will show only the additional amount of overpayment. This additional amount will be refunded separately from the amount claimed on the original return. The IRS will figure any interest due and include it in the refund.

Amended Schedules Q If the REMIC is filing Form 1065-X for an AAR, don’t furnish the amended Schedules Q (Form 1066) to the residual interest holders. If filing an AAR, and the adjustments result in an IU, the REMIC will either pay the IU or elect the alternative to payment of the IU under section 6227(b)(2) to push out the adjustments. Irrespective of an election under section 6227(b)(2), the REMIC must push out adjustments that result in an IU of zero or less than zero or those adjustments that don’t result in an IU. In such cases, the REMIC will furnish to each residual interest holder for the reviewed year a Form 8986 reflecting the residual interest holder’s share of the adjustments. The REMIC is also required to file with the AAR all Forms 8986 furnished to residual interest holders and Form 8985. See Forms 8985 and 8986 , earlier.

If the REMIC isn’t filing an AAR but is instead filing an amended return, the REMIC must furnish the amended Schedules Q (Form 1066) to its residual interest holders. When furnishing amended Schedules Q (Form 1066), the REMIC should check the “Amended Schedule Q” box on line E.